Web special: Traders can look to buy Wipro Jan futures for target of Rs 595

Check out the F&O trends in select stocks with Navneet Daga, Derivative Analyst at KR Choksey Securities

SmartInvestor:After a lacklustre start in early trades markets have firmed up in noon trades with the Nifty hovering around 6,300 levels. What is your call on the market for Jan futures expiry?

Navneet Daga:Well the Nifty is consolidating in range of 6360-6240 currently any break with volumes of these levels would invite fresh trades. Currenlty trade is to be on long side, any dips towards 6250 should be used as buying oppurtunity, with strict SL of 6200 on Jan futures.

SmartInvestor:Wipro has been in a firm uptrend post its Q3 earnings. What is the OI position indicating and is there a build-up of fresh longs? What is your strategy for the IT major for Jan futures?

Navneet Daga:Wipro had seen fresh longs after the result annoucemen t, adding nearly 8% new OI on long side, Fresh new high is been visible on counter, traders can look to buy jan futures with target of 595 on upside and SL to be placed at 560 zone.


For detailed transcript please CLICK HERE